Education and Career Forum

Hi Sir, I am trying to apply for an education loan in Tamilnad Mercantile Bank for my BTech course. I want to know that for applying an education loan what interest charges during the moratorium period? Kindly tell me immediately. Waiting for your response!

Simple interest is charged during the moratorium period. Concession in 1% is given if interest is serviced during the moratorium period or 1% concession for prompt repayment of EMI if interest is funded during moratorium.
Moratorium period is course duration plus 1 year or 6 months after getting a job whichever is earlier. Maximum repayment period of loan is 15 years after commencement of repayment.

For details, you can refer the below mentioned official website link;
https://www.tmb.in/retail_education_...ia_abroad.html